Question: Clovis Pharmaceuticals, Inc. has issued a convertible note with the following terms: Issue date: April 1 9 , 2 0 1 8 ; maturity date:

Clovis Pharmaceuticals, Inc. has issued a convertible note with the following terms: Issue date: April 19,2018; maturity date: May 1,2025; coupon rate: 1.25%; conversion price: $76.17 per share. Part A) What is the notes conversion ratio?
Part B) If the stock has risen to 126.48 per share, what is the intrinsic price of the bond?

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